Why Does Bitcoin Have Value?

[retnoanjani]

Bitcoin has value because bitcoin can also do what money can do. It can use as a form of payment where people find it useful in terms of buying or selling. Its value can be determined depends on how many people are willing to accept it as payment, the more people adopt it, the more its value will increase.

Not only that, but bitcoin can also solve fiat shortages related to the limited number of transactions and its ease without limitation of area and time. The decentralized system also attracted the interest of most people who wanted "freedom" and "transparency". The existence of market interest determines value. The rest, many people are still doubtful because it is full of pros and cons, trust-less. On the other hand, the offerings of technological advances are very promising, so this is a good niche to explore.

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[Gheka]

Bitcoin has value because bitcoin can also do what money can do. It can use as a form of payment where people find it useful in terms of buying or selling. Its value can be determined depends on how many people are willing to accept it as payment, the more people adopt it, the more its value will increase.

Well, I really cannot deny that the value of bitcoin is created by its features and usefulness, it offers a new form of investment and currency, and so it deserves a certain value but perhaps, we as users use bitcoin to invest, we want more, hopefully bitcoin will grow faster in value, instead of forcing bitcoin to stay within a value limit, we automatically generate the value we want. It has been a successful thing so far, the price of bitcoin increased rapidly and without any barriers, the government did not participate in the process, that's one thing that makes bitcoin's high value

[Skieleton]

Bitcoin has value because bitcoin can also do what money can do. It can use as a form of payment where people find it useful in terms of buying or selling. Its value can be determined depends on how many people are willing to accept it as payment, the more people adopt it, the more its value will increase.

Bitcoin are not widely accepted (e.g. at service and commercial outlets) or legal means of payment. They are not issued and guaranteed by state central banks. This means that business entities or individuals are not obliged to accept payments in this type of currencies, even if they have previously accepted them. For some time it has been laughing and as he wrote Zeke_23 Bitcoin begins to take over the role of money and it is power ...

[Twentyonepaylots]

Those who argument against bitcoin as regard its intrinsic value are obviously wrong and will have to answer same question for other asset class. It cost money to make bitcoin, in a way the electricity used to generate it can be quantified. More importantly, it has value because it creates a system that works

I'm partially agree on this, yes bitcoin was created using electricity maybe that counts as a intrinsic property that might define that bitcoin has a intrinsic value, however unlike any other asset like land, gold, diamond their intrinsic value is determined from sizes, metal property, and economic costs. In plain picture, bitcoin has a value because we are putting value in it (money) we are storing a value in it.

[Abiky]

Bitcoins have value because they are useful as a form of money.Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money. Every discussion about Bitcoin sooner or later leads to a wrangle over what gives Bitcoin value. The price of bitcoin is prone to a massive drop from time to time. Bitcoin have witnessed more than 80% rise in their value on the market.

As long as Bitcoin provides use cases for the mainstream world, people will either value it as "digital gold" or "digital money". While most people assume that Bitcoin is "made out of thin air", that's not really the case. Miners use real world resources (like energy and physical hardware) in order to "mint" new Bitcoin. The fact that the pioneer cryptocurrency has a deflationary model, tells us that it should become more valuable over time.

I believe that the true value of Bitcoin consists in its decentralized and censorship-resistant qualities than anything else. Take those away from it, and you'll get nothing more than a worthless coin. What matters is Bitcoin's usefulness as a decentralized alternative to existing Fiat. People can use Bitcoin as an "exit route" in case the world's monetary system collapses in its entirety. With developers working hard day and night to make Bitcoin stronger than ever, nothing can go wrong. Remember, anything can have value as long a people believe it that way. It's more of a psychological matter than anything else. Just my opinion

[ballerin and giroud]

Everything will have a value but it is depend on the community itself. Before money launched the human used a barter system instead of money even in some place use the stone as mean of payment because they are thinking that the stone have a value. This is same with bitcoin, the people look bitcoin have a value because its system which similar with money moreover with the need of digital currency that need by most people then bitcoin is deserve to be called as mean of payment.

[kayvie]

Everything will have a value but it is depend on the community itself. Before money launched the human used a barter system instead of money even in some place use the stone as mean of payment because they are thinking that the stone have a value. This is same with bitcoin, the people look bitcoin have a value because its system which similar with money moreover with the need of digital currency that need by most people then bitcoin is deserve to be called as mean of payment.

To make it simple, bitcoin has value because people can use it to buying or exchanging goods. It is a digital currency that we can use and we value as a means of payment, we can buy things that we need in life and it is also convertible to fiat that's why it has a value.

[wagner85]

Bitcoin adoption is a free market process. There is no guarantee of exponentially increasing adoption.

[Casdinyard]

Everything will have a value but it is depend on the community itself. Before money launched the human used a barter system instead of money even in some place use the stone as mean of payment because they are thinking that the stone have a value. This is same with bitcoin, the people look bitcoin have a value because its system which similar with money moreover with the need of digital currency that need by most people then bitcoin is deserve to be called as mean of payment.

To make it simple, bitcoin has value because people can use it to buying or exchanging goods. It is a digital currency that we can use and we value as a means of payment, we can buy things that we need in life and it is also convertible to fiat that's why it has a value.

To make it more simple, bitcoin has a value because bitcoin is used to store a  value basically it tackles the demand and supply law that determine its value in timely manner. If you guys are wondering why the price of  bitcoin is incredibly high it is because the mass is using it as a form of investment rather than a digital currency, you'll barely see people using bitcoin to buy goods these days not unlike the time that we have back then where bitcoin worth just a couple of bucks.

[K4C]

Bitcoins have value because they are useful as a form of crypto market. Bitcoin on a large scale as a suitable choice of exchange, Bitcoin will enjoy a rise in value. As with all currency, bitcoin value comes only and directly from people willing to accept them as payment. Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment.

[drumamat]

I will say, we are the one who giving value to bitcoin. Bitcoin  valuable because of its strong community. You know when bitcoin was created then it was zero value, it was just a code. When people realized the use of this codes and what would be the benefits of it then they become interested on this peer to peer decentralized electronic cash system called bitcoin blockchain. And that's how community start build up, in a result bitcoin become most valuable worldwide. So it will expand more day by day and it will not ended. That's why bitcoin value totally depends on its community.

Undoubtedly, for me, bitcoin is of great importance and I see it as a certain value, but I also fully agree with Your opinion. Without a community and interested users in bitcoin, its value will be equal to 0.

[Rafiqul]

The price of any thing depends on its needs. When Bitcoin was created, it didn't have much value in the beginning. Gradually, as its use increased, so did its demand and value. Bitcoin is associated with other cryptocurrencies. There is a demand for Bitcoin and other cryptocurrencies; For which they have value. Bitcoin is currently being used extensively as a reliable exchange medium for wealth saving purposes. Hopefully in the future the use and demand of Bitcoin will increase further and its value will also increase further.

[wozzek23]

I am fed up with people always reposting this topic and trying to twist it in their own ways. Like who doesn't know that bitcoin's value comes from the trust we have in it? The community are the ones that keeps it running. We create the value for bitcoin like how we create value for gold. No big differences. I buy bitcoins with the intention of finding another buyer who will be ready to pay the price higher than I paid. Exactly the same way, this world is working.

Well, just imagine that Satoshi Nakamoto created Bitcoin and no one asked about it not to talk of investing their money in it, then do you think that it would grow to this extent? No it wouldn't man. So, this is topic is really simple and let's stop twisting and prolonging everything, please.

[ShowOff]

Remember, anything can have value as long a people believe it that way. It's more of a psychological matter than anything else. Just my opinion

Yes, bitcoin has value because people believe in bitcoin. The limited supply of 21M bitcoin can also be a supporting factor that bitcoin will have value for a long time. In addition, bitcoin has been used as a profitable investment asset only because of price fluctuations that continue to occur. Some people consider it a place to store values ​​"it is not recommended to maintain values" such as gold and silver.

The adoption of bitcoin as a financial innovation also plays an important role in its value, its innovation as a decentralized payment system has made people believe in bitcoin. Although bitcoin still has problems with scalability, people still believe and it is proven that bitcoin is the most adopted asset in terms of usage, value and market capitalization.

[iTradeChips]

In my opinion, even without reading or listening the technicalities of bitcoin and how it is made or how it is distributed, basically it all boils down to one thing - demand. Bitcoin has shown through the years that there are good things that you can get out of it. The more good you can get from Bitcoin, the more people will trust bitcoin and people will do more to make sure they will get more and use it. Demand is what gives things value.

[BennyK]

Bitcoin has value because bitcoin can also do what money can do. It can use as a form of payment where people find it useful in terms of buying or selling. Its value can be determined depends on how many people are willing to accept it as payment, the more people adopt it, the more its value will increase.

Very true. That was the dream of Satoshi. Now, there are Bitcoin ATMs in African countries like Nigeria, South Africa, Ghana. Other ecommerce and shops also accept BTC as form of payment. With all these accomplished, Bitcoin will certainly have value. The adoption rate is organic and that is a good thing for the industry now.

[Wind_FURY]

The topic has a multitude of answers, but I have never seen someone say, or mention "censorship-resistance" as to the "why" Bitcoin is value.

Newbies, the reason why the Core developers have made design-decisions to keep the blocks small, is to keep the network decentralized, to maintain the network's main value proposition, censorship-resistance.

[Shallow]

In my own opinion, I will say Bitcoin have value because it is TRUSTED; this is because no one can use what he doesn't trust, that means value comes from trust. Also, extending this idea to some coins, one will understand that most coins which are not trusted probably because of their team or their use case, struggles to grow. But in the case of Bitcoin, people are comfortable holding it, trading it and so on because it has proven its worth. Another reason is because of its utility, that is, Bitcoin is solving a world problem, and by solving the problems attracts more value.

[online73]

Hello everybody. There have already been written a lot of correct and dubious things about Bitcoin. I want to share about my first meeting with Bitcoin, which personally inspired me to engage in cryptocurrency. Perhaps many will recognize this in themselves. For a long time I did not want to get involved with various payment systems - the constant fear that I would urgently need money, but I could not quickly get my dollars back - constantly confused me. At first, I did not even attach importance to the fabulous rise in the price of bitcoin, - I thought that $ 1,200 was the limit. But it is the very name "bitcoin" that attracted my attention. I decided to just experiment, - I brought a small amount of dollars to the exchange, bought bitcoin, then, after a while I sold it with profit and quickly withdrew all the money to my credit card. I want to say precisely these simple things are valuable to the layman. The speed of cryptocurrency turnover, the ability to buy and sell bitcoin from anywhere in the world (now even in the most distant point of the world there is the Internet and the ability to spend your money on a credit card). Well, the fact that Bitcoin has both supply and demand on all exchanges is the main reason that this asset should be trusted.

[Debonaire217]

I don't think so. I'm pretty sure that people who actually understand Bitcoin is only a small minority. All they need to know is that Bitcoin is decentralized, trust-less, unconfiscatable, and has a hard limit. I think knowing those characteristics alone will be enough for the typical non tech-savvy person to know that it's worth something.

Moreover, it isn't enough for us to convince everyone in order to advertise bitcoin to them. Some people are relying already to credit cards and digital payments, wherein they can pay easily through their cards but not knowing that it is vulnerable too. (I do not except cryptos to be vulnerable, as it is as well, but I consider crypto as more secured). In addition, we have a very good asset to market them through explaining the perks such as crypto as investment tool. But I can see that it doesn't get well as in my experience, after I stated the word "investment" to my friend, his response was somehow related to crypto as scam. And IMO, this is the perception we first need to change in order for people to really value Bitcoin.